Indonesia: Food delivery startup Kulina to close second seed round of over $500k by Jan

Photo: Kulina's Twitter account

Jakarta-based online food ordering and delivery company Kulina aims to close its second seed round of over $500,000 by January 2018, its management told this portal in an exclusive interaction.

In March this year, the company closed its first seed round of $700,000 from Monk’s Hill Ventures, East Ventures and Coffee Ventures. For the second seed round, Kulina is in talks with multiple investors, including existing ones, for funding. It is also planning a subsequent Series A round in mid-2018.

Before its first seed round, Kulina was handling on average 200 deliveries a day. The company claims to have increased its deliveries over the last three months to nearly 1,500 per day. It is now targeting to increase deliveries to 5,000 meals per day by mid next year and 10,000 meals per day by the end of next year. The online catering startup is banking on offers such as its lunch pool programme that provides a cashback if 10 or more users from the same office subscribe to its services.

Kulina primarily caters to the middle income, office-going consumer segment with lunch orders priced at 25,000 rupiah per box, including packaging and delivery costs. Currently, it offers its services only in Jakarta with plans to expand to Jabodetabek, or Greater Jakarta, by the middle of next year. Kulina management is hopeful of the company achieving breakeven by the end of 2018.

The meal subscription service, which uses technology to optimise inefficiencies in supply chain and logistics, was recently named among the four Southeast Asian startups selected for Google’s Launchpad Accelerator programme. The six-month programme includes a two-week bootcamp in San Francisco and mentoring from more than 30 teams across Google and mentors from top technology companies and VCs in Silicon Valley and globally.

Participants receive equity-free support, credits for Google products and media training, and continue to work closely with Google back in their home country. Other startups from Southeast Asia selected for the fifth edition of the programme are financial services firm Ayananh (the Philippines), price comparison app provider Priceza (Thailand) and educational solutions provider Monkey Junior (Vietnam).

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.